Member Info for ripperg

I hope and pray that following the competition, everything is in place to capitalise on the thousands and thousands of new users. Vendors, affiliates, new features.......we need Mode to be smart here.

I'd also like to think Mode prospers when there is BTC volatility, but I guess without user numbers and also any idea of the types of users we have (mostly newbies holding £50 of BTC? Hodlers? BTC day traders?) then I remain sceptical. Cannot believe we're currently sitting at 15p - even if I had $$$ to average down with, I', not sure I would just now. I'm taking some comfort from it being a tough day all round.

The business model was never the BTC Jar, nor is it the BTC wallet / trading platform, it's the Open Banking payments mechanism. I think one of the issues with Mode (and Mode not blameless here) is the many PI's don't understand what they're invested in.

City announces his exit from the board for the 87th time :)

Dear Stakeholders,
Mode made an announcement today that Ryan had stepped down from his role as CEO and significant shareholder. It was by mutual consent and Ryan remains committed to the long term success of the company and is supportive. The share price decline over 6 months has been difficult to accept for many and least of all me who is the largest shareholder. I therefore decided the best course of action was to take back the day to day operations of the company and lead as a leader should. I have cleared the decks to give 110% of my time to Mode and the very clear undervalue of the company and the potential. Mistakes have been made for sure but we now have the chance to reset and take Mode forward. As I have said we finished 2021 where we said we would and we delivered everything from our 2020 IPO prospectus. 2022 has started in similar fashion with all metrics growing and other products and business lines in build with roll out over the year. We are considering various new avenues of opportunity now as well. We are a public company so sharing information is tricky but we are not in crisis, we are not short of cash and we continue to grow and innovate as a young Fintech should. I am taking on the responsibility for Mode and leading from the front, we will succeed and I know no other way. In the last 15 years I have, among other things, created three distinct banking/Fintech groups all that are successful, very successful. Mode has the biggest opportunity to disrupt and that is why my focus and dedication is squarely back with Mode. Thanks for all your support I know it’s been tough but I think we have reached the bottom and I will be championing the company amongst existing and new investors from next week. Thanks again.
Jonathan Rowland

Clarification - Ryan remains a shareholder and supportive. He has stepped down from the board

He also put the placing rumours to bed for about the 100th time.

City, by your own admission you have also traded this stock, and thus have also impacted the SP. You've bought, sold, bought, sold.............but the minute others say they've done they same you jump all over them. What am I missing here?

....though a better ending to today than expected.

News is definitely required...........no idea what sparked the sell-off today., and such low prices too.

https://www.modeapp.com/blog/year-in-review-a-look-back-at-2021

Yup, it's painful

True!! So to rephrase: hopefully they're timing the RNS to coincide with the completion of the completion to maximise the number of users and affiliate and/or direct merchants that can be announced to them.

Or nothing will happen and we continue to wait.........

Maybe wishful thinking but I’d like to think Mode are timing the RNS to announce the circa 100 new affiliate vendors, to coincide with the completion of the competition. i.e. all those thousands of new users who downloaded and registered just to enter the competition will then receive app notifications about BTC Cashback from 100+ (hopefully) vendors.

I doubt we'll see an RNS until the BTC competition has ended at least. (1st February).

No, there doesn't appear to be any crossover between the two companies, they operate in different areas doing very different things.

I agree, definitely more of a BTC and shopping app just now. But the way I'm looking at it: the BTC incentives (zero trading fees, BTC completion) gets the users onboard, the affiliate programmes get the business onboard. A great foundation to then push forward with the payment solution.

Well I think we know exactly why the plan for new merchants backfired........can't say it was for lack of trying. Those were big (affiliate) merchants. As per Ryan's video we now have approx 100 merchants signed up via the affiliate programme, though due to last year's mess, Mode are contacting them each individually in an attempt to avoid a repeat. I'm ok with that, and the FCA approval, and the charity payment provider progress, and the BTC payroll progress, and the BTC competition, and the marketing which has now ramped up. All of which should dovetail nicely with the open banking payment solution, which is why we're all here!

Don't get me wrong, I'm down by a horrible % on this share, but I still believe in the fundamentals. Last year did not go well in terms of share price or reputation, but I am confident this year we'll do more than turn it around.

For those who may have missed this:

JR comments yesterday (Telegram): Guys you can’t short this share so ignore these fools. Also ignore anybody who claims to know anything about any potential fundraisings. It’s total fantasy. The board is happy with its progress and again I reiterate we delivered on everything we said in the prospectus and all of our targets in 2021. 2022 will see the roll out of new products, business lines and the scaling of the business. Please check out Ryan’s video today. The board and significant shareholders are committed to the company and have no worries about the future. Please ignore the idiots. Regards Jonathan Rowland Chairman and Shareholder

Rita tweet tonight: One price drop doesn’t mean #bitcoin has no future, one mistake doesn’t make a bad company.

Georgia Toffolo: new influencer (1.8 million followers) signed up to market Mode on Instagram, and has a Q&A live with Rita Friday afternoon

I am in the group, and JR's last mention of a placing was on the 23rd September, in response to others discussing it. He commented that his preference in general is for a CLN instead of a placing. Nothing has been said since on the group from anyone in the company. In fact, JR is the only one to occasionally, very occasionally, comment on anything in the group.

The previous post gives the impression it's being openly discussed, when it's quite the opposite.

It's mistake after mistake with this company. Yesterday was comically bad, though I wasn't laughing. A very expensive mistake, both financially and reputationally.

“News rich period” :D You must be from the group too then.